*Investors once again turned their attention to Dubai stocks after a quiet week, following rumours that they were deploying funds to the Saudi market amid preparations by the kingdom to open up the exchange to foreign investors. "There was speculation in the markets here that people had closed their positions and moved their money towards Saudi stocks and that dampened activity in the market last week," said Khaldoun Jaradat, a stockbroker at Brokerage House Securities in Dubai. The Dubai Financial market General Index rose 1.6 per cent on Monday to close at 4,819.86 points. Arabtec Holding, whose former chief executive Hasan Ismaik has been cutting his shareholding in the company, rose 3.8 per cent to close at Dh4.28 a share.
08-13-2014, 06:40 AM
Dubai stock market resumes activity after Saudi speculation
*Investors once again turned their attention to Dubai stocks after a quiet week, following rumours that they were deploying funds to the Saudi market amid preparations by the kingdom to open up the exchange to foreign investors. "There was speculation in the markets here that people had closed their positions and moved their money towards Saudi stocks and that dampened activity in the market last week," said Khaldoun Jaradat, a stockbroker at Brokerage House Securities in Dubai. The Dubai Financial market General Index rose 1.6 per cent on Monday to close at 4,819.86 points. Arabtec Holding, whose former chief executive Hasan Ismaik has been cutting his shareholding in the company, rose 3.8 per cent to close at Dh4.28 a share.
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